Neos Finance

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Neos Finance was an Italian bank specialized in consumer credit. Before its closure, it was part of Intesa Sanpaolo Group.

History[]

Neos Finance started as Finemiro SpA (Fin-Emi-Ro). In 1997 the parent company, Cassa di Risparmio in Bologna of Bank Group Casse Emiliano Romagnole, transformed the company into Finemiro Banca.[1] The bank became part of Cardine Banca Group in 2000 and again part of Sanpaolo IMI in 2002. At the year of 2004, Sanpaolo IMI held 96.84% shares, Cassa di Risparmio della Repubblica di San Marino held 2.65% and Unibanca held 0.51%.[2] In 2005 the bank changed its name to Neos Banca as well as Sanpaolo IMI reached 99.49% ownership ratio. On 2 January 2007 the bank followed Sanpaolo to merge into Intesa Sanpaolo Group, as well as reached 100% ownership. In 2009, a reverse merger was taken, which former subsidiary Neos Finance absorbed all the assets of Neos Banca.

In the year end of 2011, Neos Finance had an equity of €53,011,842; total asset of €4,983,684,044 and a net loss of €128,758,833.[3] In 2004, the figures were equity €126.924 million, total assets €2,190,125,152 and net profits of €11,839,145.[2] A scandal was also exposed in 2010.[4]

On 1 January 2014 Mediocredito Italiano, another subsidiary of Intesa Sanpaolo, absorbed the leasing segment of Neos Finance, as well as rest of the business activity were merged into on 1 April 2013.

References[]

  1. ^ "GU Parte Seconda n.145 del 24-6-1997" (in Italian). Gazzetta Ufficiale della Repubblica Italiana. 24 June 1997. Retrieved 27 March 2015.
  2. ^ a b 2004 bilancio Finemiro Banca (in Italian)
  3. ^ 2011 bilancio Neos Finance (in Italian)
  4. ^ "Scoperta truffa finanziaria recuperati 7 milioni di euro". La Repubblica (in Italian). 18 February 2010. Retrieved 27 March 2015.

External links[]

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